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Enterprise Risk terms
Boards, registers and the big picture.
RetentionThe share of a loss a business pays itself, through a deductible, self-insured retention or captive, before insurance responds.Risk managementIdentifying, assessing and treating threats to an organization by avoiding, reducing, transferring or retaining them; insurance is one tool among several.Self-insured retention (SIR)The amount of a loss the insured must pay itself, often including defense costs, before the insurer's liability policy begins to pay.Total cost of risk (TCOR)The full annual cost of carrying risk: insurance premiums, losses you retain, and loss-control and administrative spending, often shown as a share of revenue.